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New Functionalities released under National Pension System (NPS)

Dated:- 1-12-2015 - Pension Fund Regulatory and Development Authority (PFRDA) has been established by the Government of India for regulation and development of Pension Sector in order to protect the old age income security of subscribers. PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance manage .....

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e CRA system only for the subscribers pertaining to their associated Corporate. Now, a POP can also upload the contribution for subscribers who have shifted from one of their associated Corporate to another associate Corporate. 2 One way switch Currently, there is no provision for transfer of funds from Tier-II to Tier-I account. Now, the POP can process a subscriber request to transfer funds from Tier II to Tier I account. Such transactions can be processed only for subscribers under All Citize .....

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qual for each subscriber. This functionality will now allow the Uploading Offices to prepare and upload contribution files where Employer and Employee contribution amount are not same. 4 Processing of voluntary contribution for corporate subscribers through any POP Currently, POPs are allowed to upload contributions for corporate subscribers only if the Corporate is associated with them. With the release of this new functionality, the POPs can process the Voluntary contributions made by any Corp .....

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. 6 Insertion of QR Code facility on backside of PRAN The QR code is a matrix barcode and is used to store URL of websites. The QR code can be converted to data by using a smart phone. The application to read QR code is available as free application for all smartphone users. Further, utility to convert website URL to QR code is also freely available online. 7 Grievance resolution by monitoring office in CRA system In case of Govt. sector nodal offices, only the PAOs/DTOs can provide resolution r .....

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